I wanted some advice on whether we need a specialized tax accountant for Real Estate.

Taxes and requirements should be much lower for a LTR

@Caryn FischerI agree with Jaron, you should definitely have a consultation with your tax accountant and/or financial planner before you do anything. 

For your situation, one rental and just W2 Income, I would suggest finding a Tax Accountant, CPA or not.

I typically will book tax entries as an accrual so that they don't affect the operational accounting.My reports do not tie exactly to my tax return as there are temporary and permanent differences between tax books and accounting books.

Anyone answering is not responding as a Tax accountant, Insurance expert or as a Financial advisor.  

@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

@Adam M.The cost for a real estate tax accountant will vary based on location, experience, education and other factors, just like any other professional.

The tax paid from your lending proceeds should be the equivalent of your tax rate I would think.

Just about any bank can open a joint account.